New York City Comptroller Scott Stringer said Tuesday he would create an advisory panel this fall to examine ways to provide retirement security for all New Yorkers — not just participants in the $150 billion New York City Retirement Systems for which he is fiduciary.
The advisory group will be led by Scott Evans, the recently named chief investment officer for the New York City Retirement Systems.
Mr. Stringer made his announcement at a conference — Confronting New York City's Retirement Crisis — sponsored by the Schwartz Center for Economic Policy Analysis of the New School for Social Research in New York.
Mr. Stringer didn't provide many details including the composition of the panel, the timetable for its recommendations and the role of legislation to accomplish any improvements.
“Any solution to this problem must be a supplement to the role of Social Security, protect taxpayers and safeguard public-sector retirement funds,” Eric Sumberg, a spokesman for Mr. Stringer, said in an e-mail. “The panel will explore innovative and low-cost ways to invest and fund retirements for working people and will draw upon the work of those in the investment, academic, pensions, organized labor and government fields.”